AUD continues to weaken (and RBA is OK with that!)
Entry - 0.7274
Take Profit - 0.7144 - 130 pips
Stop Loss - 0.7342 - 68 pips
Lowe made it clear that not only is RBA OK with a weaker Aussie, they are welcoming and expecting it. Plenty of AUD bulls are trapped on a long push following news that CNY will be propped and are ready to continue to buy (Myfxbook has 81% long). I have a (very small) short position open from 0.7333, but wanted to add more on a retest of the 30EMA (4h). We're at that level now. There was a solid breakthrough of the 0.7357 support zone back on 08/10.
I'm looking to hold this on for a while yet. My stop loss is above the Ichimoku cloud (4h) and the previous support zone. I'm expecting this to be an interesting ride. Will update as necessary.
Thanks for looking!
-Zedro
Take Profit - 0.7144 - 130 pips
Stop Loss - 0.7342 - 68 pips
Lowe made it clear that not only is RBA OK with a weaker Aussie, they are welcoming and expecting it. Plenty of AUD bulls are trapped on a long push following news that CNY will be propped and are ready to continue to buy (Myfxbook has 81% long). I have a (very small) short position open from 0.7333, but wanted to add more on a retest of the 30EMA (4h). We're at that level now. There was a solid breakthrough of the 0.7357 support zone back on 08/10.
I'm looking to hold this on for a while yet. My stop loss is above the Ichimoku cloud (4h) and the previous support zone. I'm expecting this to be an interesting ride. Will update as necessary.
Thanks for looking!
-Zedro
Trade closed: stop reached:
Nope!